Current Topics in Longevity Risk Modeling and Life Settlement Annuities
Tuesday, August 16, 2011
Dr. Wai Tang will speak on “A New Approach to Longevity Risk Modeling”. He will present a new methodology which utilizes modern data mining technology to predict the life expectancy and mortality curve for (impaired) elders. Besides medical records, publicly-available lifestyle variables such hobbies, mental and physical activities are incorporated into the model. The p-value of the overall model is less than 0.03 and interactions between risk factors are strong. A/E of this model on the validation population achieves 96% or higher duration by duration.
Anthony Riccardi will speak on “Calculating the Actuarial Present Value of a Settlement Annuity”. An expert’s determination of the actuarial present value of a settlement annuity is an important decision factor for a plaintiff during the negotiated settlement of either a wrongful death or personal injury case. When presented with a settlement annuity, a plaintiff has an opportunity to receive periodic and secured benefit payments. The plaintiff is also measurably advantaged by an income tax exemption on the periodic benefit payments if the annuity contract terms are in compliance with Internal Revenue Code regulations. Generally accepted actuarial practice requires that the present value calculations, first, respect the annuity mode of benefit payments and, secondarily, make adjustments in the wage replacement figures that reflect the plaintiff’s advantage due to the income tax exemption. Calculations are illustrated for three settlement annuity benefit payment modes.
Communicating Quantitative Concepts to a Non-Quantitative Audience
Tuesday, September 20, 2011
In recent years, actuaries have been often been asked to step up their marketing and communications skills. How does one explain quantitative concepts to someone who has never taken calculus? This interactive seminar will give actuaries the opportunity to practice describing terms like “variance” to a marketing executive and learn some key communications “Do’s” and “Don’ts” from professionals in the field.
Time for informal networking will be offered before and after the program.
NEWS: ST. JOHN’S SCHOOL OF RISK MANAGEMENT, INSURANCE, AND ACTUARIAL SCIENCE ANNOUNCES EXAM PREP COURSES
Wednesday, July 20, 2011
Actuarial Science Exam Preparation
The Center for Professional Education (the Center) at St. John’s School of Risk Management, Insurance and Actuarial Science offers programs designed to provide the knowledge and skills needed to pass the SOA-administered national exams, with a thorough review of the fundamentals of actuarial science and its effective application.
To register for the exams and to order books for these courses, please call the Society of Actuaries at (847) 706-3500. Please note that the SOA’s registration dates are approximately six to eight weeks prior to the exam dates.
For this course, you must also obtain a registration form through the Center’s website at http://www.stjohns.edu/cpe (This address will take you directly to the Center’s webpage, but if you have questions or encounter problems, please call the Center at 212-277-5161). Please fill out the registration form and submit to the Center for further processing. All classes are held at 101 Murray Street in lower Manhattan.
Exam Title Day Dates Time Fee
C Construction & Evaluation of Risk Models (Weishaus) Mondays 10/24 – 1/23 5:30 pm – 8:30 pm $1495.
FM/2 Financial Mathematics (Pathmanapan) Thursdays 9/8 – 11/10 5:30 pm – 8:30 pm $1195.
P/1 Probability (Pathmanapan) Sundays 9/18 – 10/16 9:00 am – 4:00 pm $1195.
NEWS: Special ASNY Offers and Learning Opportunities in Enterprise Risk Management (ERM)
Thursday, March 17, 2011
ASNY is pleased to announce several new continuing education opportunities. With ERM emerging as a critical area for actuaries, here are several opportunities to learn from a globally-recognized ERM thought leader: Sim Segal, FSA, CERA. Segal is President of SimErgy, a firm specializing in ERM consulting and executive education. He is Adjunct Professor at Columbia Business School teaching an MBA/EMBA course on ERM, and author of a new ERM book, Corporate Value of Enterprise Risk Management (Wiley, March, 2011). Segal is Vice President on the SOA board of directors, leading its ERM program implementation. Segal is also a former ASNY President. See his bio at http://www.simergy.com/presidentsbio.html Segal brings us several ERM CE opportunities:
1) Get new ERM book at http://www.simergy.com/ermbook and enter Purchase Code “asny” for 10% DISCOUNT.
2) Register for SimErgy ERM Boot Camp™ at http://www.simergy.com/seminars and get free copy of new ERM book.
3) Register for ERM webinars at http://www.simergy.com/webinars .
4) Listen to free weekly 30-minute ERM program Risk Radio™ at http://www.simergy.com/riskradio .
NEWS: Summary of Prior Continuing Education Sessions
Saturday, February 5, 2011
We have received requests in the past for a list of prior continuing education seminars so we are posting on the website. See attached document. ASNY is looking at updating the website and future CE events (e.g., presentations) will be stored on the website for access and review.
NEWS: Reminder for SOA Members - Attestation of Meeting CPD Requirements
Wednesday, November 3, 2010
The period to attest your compliance status is now open. You have until February 28, 2011 to attest compliance with the Society of Actuaries (SOA) Continuing Professional Development (CPD) Requirement for 2009-2010. SOA Members should contact the SOA if you have not received notification to attest.
Below is a list of continuing education courses offered during 2008 to 2010 to assist actuaries in completing their CPD requirements. If you have any questions or wish to volunteer for future continuing education courses, please contact us at events@goasny.org.
NEWS: ASNY to donate to The Actuarial Foundation for 2010
Friday, November 19, 2010
Dear Actuarial Society of Greater NY Members:
We did it in 2006, 2007, 2008, 2009 - let’s do it again in 2010!
ASNY wants to double the impact of your donation dollars to The Actuarial Foundation with a matching gift. Effective November 15 through December 31, 2010, donations made by ASNY members to The Actuarial Foundation will be matched, dollar for dollar, up to a goal of $5,000.
The Foundation has done some great work in math education of students and financial education to consumers across the country. At our Annual Meeting Steve Schreiber described a number of the Foundation’s innovative efforts, including their new, Award winning financial literacy curriculum for high school students, Building Your Future.
On-line donations for ASNY members can be made at: http://www.actuarialfoundation.org/donate/index.shtml or make your gift by mail (postmarked no later than December 31) noting that you are an ASNY Member to:
The Actuarial Foundation
475 N. Martingale Road #600
Schaumburg, IL 60173
Together we can make a greater impact - Thank you.
Charles Carroll, FSA, MAAA
ASNY President
NEWS: ASNY is now on Linked In!
Friday, August 29, 2008
Do you have a Linked In profile? ASNY Linked In members is above 400 today. Would you like an easy way to connect with fellow ASNY members and extend your professional network? Well, now you can with ASNY on Linked In. This is great way to stay connected and network with other members of ASNY as well as stay current on future events.
Please come join us. All you need to do is follow this link http://www.linkedin.com/e/gis/708007 and then click the yellow button ’Join’.
To learn some of the benefits of Linked In, read this article from ImageOfTheActuary.org http://www.imageoftheactuary.org/Home/CareerArticles/CommunicationSkills/AreYouLinkedIn/tabid/267/Default.aspx
